APL Apollo Tubes Q1 FY27 profit Rs 263cr, call Aug 3

Results update: profit rises, income and expenses increase

APL Apollo Tubes Ltd reported its unaudited consolidated financial results for the first quarter of FY2026-27, with consolidated net profit at Rs 263.11 crore. Consolidated total income for the quarter came in at Rs 5,646.23 crore, compared with Rs 5,195.34 crore in the year-ago quarter. The company also reported higher costs, with total expenses at Rs 5,293.80 crore for the quarter ended June 30, 2026, up from Rs 4,885.39 crore in the corresponding period last year.

The earnings print was accompanied by an improvement in per-share profitability. Basic earnings per share (EPS) stood at Rs 9.48 for the quarter, compared with Rs 8.55 in the same quarter of the previous fiscal year. Diluted EPS was also Rs 9.48, up from Rs 8.54 year-on-year. These numbers set the baseline for investor focus as the company prepares to discuss Q1 performance in a scheduled conference call.

Conference call scheduled for August 3

APL Apollo Tubes has scheduled its Q1 FY27 earnings conference call for August 3, 2026, at 11:30 AM IST. The company said the call is meant to help investors and analysts assess the quarter’s performance against market expectations. The announcement for the call was filed on July 24, 2026.

The timing is also linked to governance and disclosures around the quarter. The company indicated that a board meeting is scheduled on August 1, 2026, to approve the company’s standalone and consolidated financial results for the quarter ended June 30, 2026. With that timeline, the August 3 call becomes the key forum for questions on margins, pricing, costs, and volume trends.

Volume performance: Q1 dispatches decline year-on-year

Alongside the financial update and call schedule, APL Apollo reported a softer operational start to FY27. Q1 FY27 sales volume was 744,823 tonnes, down from 794,350 tonnes in Q1 FY26. This is described as a year-on-year contraction of 6.24%.

The company’s business update noted that it sold 7.45 lakh tonnes during Q1 FY27. The operational data points to a meaningful divergence from the expansion trend seen through most of FY26. The quarter’s volume performance also becomes important in the context of the company’s FY27 volume growth guidance of 15% to 20%.

New product segmentation framework disclosed

From the current quarter onwards, APL Apollo said it has adopted a revised product segmentation framework to improve clarity and relevance in reporting. Under the new classification for Q1 FY27 volumes, the APL Apollo Brand contributed 568,691 tonnes and the SG Premium Brand accounted for 58,686 tonnes. UAE operations contributed 25,929 tonnes, while roofing products recorded sales of 91,516 tonnes during the quarter.

This segmentation provides investors with a clearer view of where volumes are being generated, especially in a quarter where consolidated dispatches declined. It also creates a base for tracking mix changes in subsequent quarters.

How brokerages read the volume miss

JM Financial said APL Apollo reported Q1 FY27 consolidated volumes of about 745kt, down around 6% year-on-year and 19% quarter-on-quarter, and below management’s earlier guidance of 875kt (+10% year-on-year) that was communicated during the Q4 FY26 earnings call. JM Financial attributed the weak performance to softer demand amid geopolitical uncertainties, channel de-stocking after a sharp rise in HRC (hot rolled coil) prices, and subdued utilisation at Dubai operations.

Despite the volume miss, JM Financial maintained an ‘Add’ rating with an unchanged 12-month target price of Rs 2,140. It also noted that while the company has guided for 15% to 20% year-on-year volume growth for FY27E, the weak Q1 performance increases the likelihood of a downward revision to full-year volume guidance.

Nuvama retained its ‘Buy’ call but trimmed its target price. It said it is cutting FY27/28/29E EPS by 3%/6%/6% and reduced its target multiple to 33x from 35x. Nuvama retained a target price of Rs 2,067 (from Rs 2,231) and stated the stock trades at 34x FY27E EPS. It also said it expects EBITDA per tonne to remain healthy and above the Q4 FY26 level of Rs 5,525.

Guidance points highlighted in the update

The shared guidance points included a FY27 volume growth target of 15% to 20% (attributed to Sanjay Gupta). The same set of disclosures also included EBITDA growth guidance of 20% to 25% and a PAT growth target of 25% to 30% for FY27. Another metric referenced was EBITDA per tonne expected to sustain between Rs 5,000 and Rs 5,500 based on a two-year track record.

These guidance metrics are likely to be discussed in greater detail on the earnings call, particularly because Q1 volumes declined year-on-year. Investors typically watch how volume trajectory, product mix, and steel input costs translate into per-tonne profitability.

Market snapshot: price moves and valuation markers

On Thursday, APL Apollo Tubes shares were reported trading 0.64% higher at Rs 1,796.20. The stock has climbed 8.81% on a year-to-date basis.

A separate market update said the shares initially rose to an intraday high of Rs 1,799 before paring gains, and were trading at Rs 1,768.60, down 1.12% on the NSE at 2:12 pm. Another valuation snapshot in the update stated the stock trades at a P/E of 43.6 with a market capitalisation of Rs 52,483 crore.

Key numbers at a glance

Conference call access details and contact

The company provided dial-in numbers for the earnings conference call scheduled for August 3, 2026.

For conference call logistics, investors were asked to contact Pallav Agarwal at Antique Stock Broking Limited via mobile (+91 98209 67663) or email (pallav.agarwal@antiquelimited.com).

Corporate action note: Blue Ocean Projects disinvestment

The update also stated that APL Apollo Tubes Limited’s Board has approved the disinvestment of its entire shareholding in Blue Ocean Projects Private Limited to SG Realtor Private Limited for Rs 160 crore. Beyond the transaction value and parties involved, no additional details were provided in the supplied text.

Why the August 3 call matters for investors

The combination of higher reported income and profit, rising expenses, and a year-on-year decline in sales volume sets up a quarter where investors are likely to focus on margins, pricing, and demand signals. Broker commentary highlighted potential pressure from de-stocking and HRC price movement, and pointed to subdued utilisation at Dubai operations. The revised segmentation framework also adds a new layer for tracking mix, including the split between APL Apollo Brand, SG Premium Brand, UAE operations, and roofing products.

Conclusion

APL Apollo Tubes has reported Q1 FY27 consolidated net profit of Rs 263.11 crore, with total income of Rs 5,646.23 crore and higher expenses of Rs 5,293.80 crore, while volumes declined to 744,823 tonnes. The company’s board meeting is scheduled for August 1, 2026, and the earnings call on August 3, 2026, at 11:30 AM IST is expected to clarify the quarter’s margin and demand drivers within the FY27 guidance framework.